TA Realty has purchased a newly built industrial facility at 1950 River Road in Florence, New Jersey, on a forward basis from Carson Cos., which developed the property.
The 486,812-square-foot Burlington County warehouse was completed this year and was fully leased leased to LC Logistics Services at the time of the sale. Financial terms of the sale were not disclosed.
LC Logistics was attracted to the facility, which is located adjacent to the New Jersey Turnpike and the Delaware River, due to its “best in class building specifications, robust parking capacity and ideal logistics dynamics,” according to Lee & Associates, which brokered both the sale and LC Logistics’ lease agreement. LC Logistics’ 10-year lease term is valued at over $47 million, according to Lee & Associates.
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